Crop receipts issued already exceed UAH 1 bln

18 February 2019, 13:10

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Since the start of 2019 as of February 12, 2019, a total of 104 receipts were issued to the amount of over UAH 1 billion.

The International Finance Corporation (IFC) reports that 955 crop receipts are already issued in Ukraine to the amount of over UAH 7.5 billion. The total amount of crop receipts in 2018 exceeded USD 200 million (UAH 5.24 billion). In total, 669 crop receipts were issued from 53 lenders for 1.1 million tons of agricultural products used as collateral.

In 2018, financing under crop receipts was provided to:

companies-suppliers of material and technical resources — UAH 2.6 billion (51 pct of the total amount of funding in 2018);
companies-distributers — more than UAH 1 billion (20 pct);
banks — more than UAH 950 million (18 pct), at the same time, having received the most of crop receipts — 225, i.e. every third issued crop receipt;
traders and processors — c. UAH 0.5 billion.

As a guarantee, agrarians used as collateral the future harvest of main grain and niche crops, fruit, vegetables and berries, as well as animal products (milk and meat), with a total volume of 1.1 million tons.

“The year 2018 was the first year of crop receipts usage throughout Ukraine. The launch of the National Electronic Register of Crop Receipts in February 2018 provided an opportunity for producers from all regions to issue agrarian receipts and receive funding on the security of their future harvest,” the IFC commented.

As previously reported, the receipt program for pig breeders would be introduced.